A Leeds-based sports bar, Toast, has been acquired by its long-time general manager, and Leeds-local Jacob Georgallis as part of plans to expand the premises and grow the business’s presence across the North of England. Jacob started working as a glass collector at the bar located at West Point, Leeds, back in 2015 when he was just 18 years old. The now 29-year-old has been with the business through a change of ownership, as well as the decision to rebrand from a cosmopolitan bar to a sports bar when the current owners noticed a lack of spaces showing major sporting events in the city’s financial district. The rebrand was overseen by Jacob and the bar’s owners in 2017. As Toast’s popularity grew, the existing space could no longer meet customer demand. Jacob began to work closely with the owners on ideas for extending the premises. However, increasing the space would require more than cosmetic changes and they decided to look at a longer-term strategic vision and investment. Jacob began discussions with the owners about a potential acquisition as far back as 2019. Although the COVID-19 pandemic temporarily put plans on hold, it also saw Jacob play a key role in innovating the bar’s operations through app-based ordering and table service. By early 2025, Jacob revived the conversation and secured a £350,000 term lending facility from Lloyds to purchase the bar via a share transaction. He is now focused on increasing the venue’s footage while preserving its identity. Looking further ahead, the new owner is hoping to open similar bars in a number of cities across the North of England, such as Newcastle, Liverpool and Manchester. Jacob Georgallis, director of Toast Bar, said: “It’s a real privilege to be taking over the helm of Toast, a business I’ve invested much time and love into over the last decade. A year into my tenure at the bar it was taken over by the current owners, James and Gilda, both of whom I’d had the fortune of knowing since I was a child. The family-like atmosphere and implicit trust in me and my vision for the space is the reason I’ve stayed with the business so long. “We started the process of the sale early this year and it has been smooth sailing since. That is in no small part down to my relationship manager at Lloyds, Craig Baldwin, and his team – who’ve ensured each step of the purchase has been simple and hassle-free. I look forward to working with Lloyds over the next few years to expand Toast’s premises and investigate new opportunities for locations across the North of England.” Craig Baldwin, relationship manager at Lloyds, said: “It’s clear that Toast’s success to date has been heavily influenced by Jacob and the strong relationship he has with its team. We’re pleased to have been able to support the next steps of his vision for the bar, and I look forward to working closely with him in the future.”

Yorkshire’s four Metro Mayors have joined together with the co-chairs of the Yorkshire Leaders Board to write a letter to the chair of Yorkshire Water, asking the board how it is holding the leadership of the company to account for their poor performance, and expressing concerns over undisclosed payments to its CEO. At a time when Yorkshire Water customers are facing a 41% increase in bills – after the company spilt sewage into the region’s rivers and waterways for more than half a million hours in 2023 – the Guardian has reported that CEO Nicola Shaw has received £1.3m in undisclosed extra pay via an offshore parent company. Slamming the revelations as “wholly unacceptable,” the region’s four Mayors – Tracy Brabin, Luke Campbell, Oliver Coppard and David Skaith – have joined with the co-chairs of the Yorkshire Leaders Board to demand “clear answers” on behalf of customers and communities, as to why executive rewards continue to rise while service standards decline.

Data from the latest KPMG and REC, UK Report on Jobs: North of England survey signalled a sharper decline in recruitment activity across the region. However, the downturns in both permanent placements and temp billings were less pronounced than those seen on average across the UK as a whole. The steeper fall in hiring activity across the North of England coincided with a sharper decline in job vacancies, and drove a further marked increase in candidate availability. Nevertheless, pay trends for both permanent and temporary staff improved, as there was still competition for suitably-skilled staff. The KPMG and REC, UK Report on Jobs: North of England is compiled by S&P Global from responses to questionnaires sent to around 150 recruitment and employment consultancies in the North of England. Permanent staff appointments contract at substantial rate in July July survey data signalled a further drop in permanent placements across the North of England, thereby stretching the current period of decline to just over two years. Anecdotal evidence indicated that the latest reduction was due to lower demand for permanent staff and recruitment budget constraints. The rate of decline was rapid and the fastest in four months, although it remained noticeably softer compared to those seen earlier in the year. Of the four monitored English regions, only the Midlands posted a slower fall in placements than that seen in the North of England. Recruitment consultancies in the North of England registered a ninth consecutive monthly decrease in billings for temp staff in July. Panellists often mentioned that the fall was reflective of tighter client budgets. Notably, the rate of reduction was the strongest seen since April and steep overall. The decline was also a marked contrast with the series long-run trend of strong growth. The North of England recorded a softer decrease in temp billings compared to the UK average, however. July data signalled a ninth consecutive monthly decrease in demand for permanent and temp staff in the North of England. Although solid and the strongest in three months, the reduction in permanent vacancies was not as sharp as the UK average. In fact, the North of England recorded the softest drop in permanent job openings of the four monitored English areas. The downturn in temp vacancies was the strongest since March and sharp, and broadly in line with the UK trend. Permanent labour supply rises at strongest rate in four months As has been the case since the start of 2024, permanent staff availability in the North of England rose in July. The rate at which staff supply expanded was the quickest in four months and substantial overall. Redundancies were cited as a key driver of growth, with panellists also linking the rise in supply to a mismatch of skills and available roles. The North of England also posted the quickest uplift in permanent candidate numbers of all four monitored English regions. The number of candidates seeking temporary positions in the North of England rose further at the start of the third quarter. The rate of growth was not only substantial, but the joint-sharpest in over four-and-a-half years (on a par with March 2025). According to recruiters, the pool of available temp workers had increased due to fewer contract opportunities. The North of England recorded the fastest increase in temporary labour supply of all four monitored English regions. Starting salary inflation picks up in July The seasonally adjusted Permanent Salaries Index posted above the crucial 50.0 mark again in July, to signal a fourth consecutive monthly rise in starting salaries across the North of England. Panellists mentioned that pay had increased to attract and secure sought-after skills. Although still subdued compared to the long-run average, the rate of inflation picked up to a solid rate that outpaced those seen across the three other monitored England regions. After falling modestly in June, temp pay in the North of England increased in July. Although the rate of wage growth was below trend and only modest overall, it was stronger than the UK-wide average. According to anecdotal evidence, average hourly rates of pay for temporary staff were raised as a result of increased competition for suitably-skilled workers. Commenting on the latest survey results, Phil Murden, Leeds office senior partner at KPMG UK, said: “Pressure on the North’s jobs market remains but July’s data shows that employers are continuing to adapt. While hiring slows, pay for permanent roles is rising faster here than anywhere else in England. Demand for specialist skills persists and businesses are working harder to hold on to the talent they already have. “With hiring budgets under strain, we’re seeing a clear shift: firms are focusing less on expansion and more on retention, especially for experienced and hard-to-replace professionals.” Kate Shoesmith, REC deputy chief executive, said: “There is a path to jobs market recovery – but it will take co-ordinated action from Government, the Bank of England and business to maximise on any potential upswing. “With starting salaries and temp pay rising in the North of England but only modestly, it was right to cut interest rates last week. More action like this, to stabilise the business cost-base, is what will support growth and boost the jobs market this year. That is what the Chancellor should be keeping firmly in mind when preparing this year’s Autumn Budget. “Regular fluctuations in permanent and temporary job placements in the North of England signal a local labour market that remains resilient but uneven. Across the UK, construction, a key economic bellwether, has seen a rise in temp vacancies, an early sign of confidence returning. Demand for blue-collar temp roles and permanent engineering jobs also remains steady across the country, offering another glimmer of optimism. “At the same time, hiring in retail and hospitality are down in the UK. Employers in these sectors are pausing due to cost pressures and uncertainty around employment law, although when the turn comes, these industries typically rebound quickly. “Meanwhile, wide ranging skills shortages for permanent staff remain in the North of England, which indicates the need for urgent support from government to upskill and retrain people; while businesses need to act now to secure the talent they will require when hiring picks up later this year, as our separate employer sentiment surveys suggest it will.”

NFP, a subsidiary of Aon, has acquired Bspoke Insurance Group, a Leeds-headquartered specialist broker platform, broadening its UK presence. Bspoke operates across several UK offices, including in Shropshire, Gloucestershire, Essex, Liverpool, and London.

Founded in 2022 through the merger of Precision Partnership and UK General Insurance Group, Bspoke offers coverage in diverse sectors such as property, lifestyle, high-net-worth, and transportation. This acquisition strengthens NFP’s portfolio by adding Bspoke’s expertise in technical underwriting and specialist insurance solutions.

Despite the acquisition, Bspoke will retain its brand and operate independently, with its management team reporting to Matt Pawley, President of NFP Europe.

Bspoke’s emphasis on IT and data-driven operations allows it to function as a ‘virtual insurer,’ with full capabilities in sales, underwriting, pricing, and business intelligence. Its recent award as ‘MGA of the Year’ at the 2025 National Insurance Awards further underscores its success in driving growth and client retention.

This acquisition paves the way for NFP’s continued growth, with plans to leverage Bspoke’s technical expertise and explore further acquisition opportunities in the specialist insurance market.